MTN Telkom
MTN is Planning to Buy Telkom
MTN Group is reportedly in talks to buy its telecommunications rival Telkom. According to Bloomberg, the company said the discussions are still at an early stage and there is no certainty that the transaction will be completed. The news that was announced on Friday morning instantly saw Telkom’s share price soar by 30%. “Shareholders are advised that MTN and Telkom SA SOC Limited [Telkom] have entered into discussions in relation to MTN acquiring the entire issued share capital of Telkom in return for shares or a combination of cash and shares in MTN,” MTN said in an announcement. MTN would pay for the partially state-owned company in shares or a combination of cash and stock, according to a statement the giant telecommunications company released on Friday morning. According to Moneyweb, n...
MTN’s Takeover Plans for Telkom Would Need the Government’s Support First
Sourced from Business Tech South Africa’s MTN Group, the largest telecom in Africa and 2nd largest in its home nation has reportedly made a pitch to buy SA’s third largest telecom, Telkom. According to an anonymous insider who spoke to Bloomberg, Telkom has shown no interest in being taken over by the MTN Group. It currently seems unclear if MTN will continue persuing the purchase of the semi-private telecom. “There is no deal on the table in relation to this matter,” MTN said in a statement after inquiries. Telkom itself has yet to comment on the reported offer. Telkom currently has a market valuation $1.94-billion, which pales in comparison to MTN’s valuation of $21-billion. A valuation that has steadily surged following a multi-year asset-disposal programme and a recent spike in the pri...
